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Wool Stocktake : AWI Annual Report 2007-08
notes to the FinAnciAl stAtements 29 Related paRty tRansactions (a) Parent entities The parent entity within the Group is Australian Wool Innovation Limited. (b) Directors The names of persons who were directors of the company at any time during the financial year are as follows: B P van Rooyen, C J Abell, K J Bell, W B Merriman, R J Fletcher, C R Olsson, K A Boundy, R Clubb, J S Keniry, I M McLachlan, H P Nivison and P S Sykes. All of these persons were also directors during the year ended 30 June 2007, except for R Clubb and J S Keniry who were appointed on 24 April 2008. (c) Subsidiaries Interests in subsidiaries are set out in note 31. (d) Remuneration Disclosures relating to directors and key management personnel remuneration are set out in the Directors’ Report. (e) Other transactions with directors and key management personnel or entities related to them (i) Loan transactions and balances There were no loan transactions or balances with directors and key management personnel or entities related to them during the year ended 30 June 2008. (ii) Other transactions and balances Mr I M McLachlan, a director, provided his Tupra property in New South Wales and sheep livestock during August 2007 for the conducting of clip design (alternative to mulesing) trials. Likewise, Mr W B Merriman, a director, provided his Merryville Stud property in New South Wales and sheep livestock during October 2007 for the conducting of a clip design trial. No benefit was derived by either director in participating in these trials. Dr C J Abell has been involved in fly strike protection technology research on behalf of AWI. He has received no financial benefit and has made no claim in respect of intellectual property relating to the research. No director, or director-related entity entered into a contract or had any other transactions other than normal terms and conditions with Australian Wool Innovation Limited during the year ended 30 June 2008. There were no other transactions with key management personnel or entities related to them during the year ended 30 June 2008. Other transactions relating to subsidiaries: consoLidated 2008 $ Loan to aWi LLc (us subsidiary) Provision for impairment of intercompany receivable – – – 2007 $ – – – 2008 $ 1,176 (1,106) 70 PaRent 2007 $ 913 (784) 129 R J Fletcher and C R Olsson who were appointed on 14 November 2007 and K A Boundy, AWI 07/08 FINANCIALS 99
AWI Annual Report 2008-09
Annual Report 2006-07